Barrick's South Arturo loses top spot, two other Barrick mines dropped from top 10 ranking.
Newmont Mining News
Access to its Peñasquito gold mine is being illegally block by a trucking contractor and some members of the Cedros community.
According to the Responsible Mining Foundation, most of the companies assessed show little or no evidence of efforts to strengthen the gender balance of their leadership and governance teams.
The new business, yet to be named, will be owned 38.5% by Newmont Goldcorp and 61.5% by Barrick.
Newmont Goldcorp is now the world’s largest gold producer by market value, output and reserves, as well as the only bullion producer listed on the S&P 500 Index.
Market signals are already showing troubling signs of this shift in the sector.
Deal creates the world’s largest gold producer by market value, output and reserves.
Deal creates the world’s largest gold producer by output, robing Barrick of its recently cemented supremacy.
Newmont's $10-billion acquisition of Canada’s Goldcorp is expected to close in the second quarter of the year.
The one-time special dividend, worth $470 million, will be given to Newmont's shareholders only if its friendly takeover of Canada’s Goldcorp is approved.
The holder of over 14 million Newmont shares sent the CEO a letter that outlines how the deal, under the current terms, creates negative value for Newmont shareholders.
Project included the installation of two power stations, a 66 kV interconnected power line, and a 450 km natural gas pipeline.
Following its $6.1B merger with Randgold in January, Barrick set a bullish guidance for 2019, forecasting a double-digit jump in output.
Under the deal, Barrick will take a 61.5% stake in the joint venture consisting of the duo’s Nevada mines, with Newmont holding the remainder.
The megamerger mania now underway for Newmont Mining Corp., Barrick Gold Corp. and Goldcorp Inc. could force mid-tier companies to team up in order to successfully compete.
Barrick Chief Executive Mark Bristow and Newmont CEO Gary Goldberg met for dinner on Tuesday night in New York.
Chief executive Mark Bristow will discuss a potential JV with rival Newmont only if his company runs the operation.
The US mining giant also fired back with a deal that seeks merging operations in the state of Nevada.
Newmont rejects Barrick buyout offer, proposes Nevada tie-up.
The world’s two largest gold producers have spent this week making their cases to their biggest investors, most of whom own shares in both companies.
Barrick forecasts over $7 billion in pre-tax savings over 20 years, based on net present value — $4.7 billion of which will come from Nevada.
The portfolio would include their Kalgoorlie super pit 50/50 joint-venture in Western Australia, as well as other regional assets such as Porgera, Tanami and Boddington mines.
If successful, the move will create the world’s largest gold company with a value of around $42 billion at current market prices.
The Canadian gold giant confirmed it has reviewed the opportunity to merge with the US miner in an all-share deal.
The companies announced their planned all-share tie-up in January, just two weeks after the Barrick-Randgold merger was finalized.